On March 7, 2025, the Henry Hub natural gas spot price amounted to 4.27 U.S. dollars per million British thermal units. In January 2025, a cold front was feared to impact refiners, leading to a spike in prices. The European gas benchmark Dutch TTF also rose amid colder weather. What is Henry Hub? The Henry Hub price is seen as the most important benchmark for the U.S. natural gas market. As of 1990, it has been used for pricing of natural gas traded on the New York Mercantile Exchange and later the Intercontinental Exchange. The hub in question is a distribution pipeline system in Louisiana and began operating in the 1950s. The highest Henry Hub annual average prices were recorded in 2005 and 2008, when they climbed to over eight U.S. dollars per million British thermal unit. Natural gas export prices In recent years, the U.S. has been incentivized to build up its liquefaction and LNG export capacities as it widens the potential customer pool. With sanctions on Russian energy imports, many European countries looked to the U.S. for procuring natural gas from 2022 onward. In line with Henry Hub pricing development, the monthly LNG export price also showed volatility depending on market and geopolitical events.

Graph and download economic data for Henry Hub Natural Gas Spot Price (DHHNGSP) from 1997-01-07 to 2025-03-24 about natural resources, gas, price, and USA.

Average natural gas in the U.S. Henry Hub stood at 2.53 U.S. dollars per million British thermal unit in 2023, a decrease when compared to the previous year. Henry hub natural gas prices peaked in 2008 at 8.85 U.S. dollars per million British thermal unit.

United States - Henry Hub Natural Gas Spot Price was 4.15000 $ Per Mil. BTU in March of 2025, according to the United States Federal Reserve. Historically, United States - Henry Hub Natural Gas Spot Price reached a record high of 23.86000 in February of 2021 and a record low of 1.05000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Henry Hub Natural Gas Spot Price - last updated from the United States Federal Reserve on March of 2025.

About the Project

KAPSARC is analyzing the shifting dynamics of the global gas markets. Global gas markets have turned upside down during the past five years: North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.

Key Points

In the past year, global gas prices have dropped significantly, albeit at unequal paces depending on the region. All else being equal, economists would suggest that this should have generated a positive demand response. However, “all else” was not equal. Prices of other commodities also declined while economic growth forecasts were downgraded.

Prices at benchmark points such as the U.K. National Balancing Point (NBP), U.S. Henry Hub (HH) and Japan/Korea Marker (JKM) slumped due to lower oil prices, liquefied natural gas (LNG) oversupply and unseasonal weather. Yet, the prices of natural gas in local currencies have increased in a number of developing countries in Africa, the Middle East, Latin America, former Soviet Union (FSU) and Asia.

North America experienced demand growth while gas in Europe and Asia faced rising competition from cheaper coal, renewables and, in some instances, nuclear. Gains to European demand were mostly weather related while increases in Africa and Latin America were not significant.

For LNG, Europe became the market of last resort as Asian consumption declined. Moreover, an anticipated surge in LNG supply, brought on by several new projects, may lead to a confrontation with Russian or other pipeline gas suppliers to Europe. At the same time, Asian buyers are seeking concessions on pricing and flexibility in their long-term contracts.

Looking ahead, natural gas has to prove itself a credible and affordable alternative to coal, notably in Asia, if the world is to reach its climate change targets. The future of the gas industry will also depend on oil prices, evolution of Chinese energy demand and impact of COP21 on national energy policies. Current low prices mean there is likely to be a pause in final investment decisions (FIDs) on LNG projects in the coming years.

United States' electricity producers paid about 3.36 U.S. dollars per million British thermal unit for natural gas in 2023. Meanwhile, coal power plant operators paid an average of 2.52 U.S. dollars. In the last decade, the price of natural gas used for electricity generation has seen a net decrease, followed by a considerable rise in 2022. Coal, on the other hand, has consistently been among the cheapest fuel types used in the power sector. Natural gas prices and the influence of oil demand As it is often produced alongside oil, prices for natural gas are shaped by overall market developments of the oil and gas industry. When an overproduction of oil led to the oil glut between 2015 and 2016, natural gas prices fell notably. The same circumstance could be observed in 2020 when a fall in oil demand brought many benchmarks such as WTI and Brent to historic lows and also resulted in the Henry Hub price falling to a 21-year low. Apart from petroleum, which is an expensive and inefficient means of power production, fossil fuel costs for electricity generation have declined in recent years. Shift away from conventional energy sources Although renewable technologies were once thought to be very expensive, greater investments have quickly rendered their levelized cost of energy generation on par with fossil fuels, especially when deployed on a utility-scale. The aging coal fleet is a prime example of the increasing necessity to switch to carbon neutral technologies. Older coal plants are dealing with increasing maintenance costs as well as environmental regulations forcing the installation of pollution controls.

PCE: saar: SE: HU: HH: Natural Gas data was reported at 61.952 USD bn in May 2013. This records a decrease from the previous number of 69.016 USD bn for Apr 2013. PCE: saar: SE: HU: HH: Natural Gas data is updated monthly, averaging 26.995 USD bn from Jan 1959 (Median) to May 2013, with 653 observations. The data reached an all-time high of 75.959 USD bn in Jul 2008 and a record low of 2.796 USD bn in May 1959. PCE: saar: SE: HU: HH: Natural Gas data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A132: NIPA 2009: Personal Consumption Expenditure: Current Price.

The data available is collected through the information system “Fuel prices”. It reflects the open points of sale registered on the web page (12th December 2006 ministerial order). The data comprises: the general information regarding the point of sale: address, geographic coordinates, opening times and available services; the prices and the information extracted from the information system; the point of sale’s definitive or temporary closures. Data description: pdv_liste = “List of points of sale” (node) pdv = “Point of sale” (node) id = “Point of sale ID” (attribute) latitude = “Latitude (geographic coordinate) divided by 100000 to get the coordinates in latitude GeoDecimal (WSG84)” (attribute) longitude = “Longitude (geographic coordinate) divided by 100000 for longitude coordinates in GeoDecimal (WSG84)” (attribute) cp = “Postal code” (attribute) pop = “Presence of the station (A = motorway R = road)” ( attribute) adresse = “Point of sale address” (node) ville = “City” ( node) ouverture = “Opening hours” (node) debut = “Time of opening (hh:mm)” (attribute) fin = “Time of closing (hh:mm)” (attribute) saufjour = “Days of closure (Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, Sunday)” (attribute) services = “List of services offered by the point of sale” (node) service = “Name of the service” (node) prix = “Fuel price” (node) id = “Fuel ID” (attribute) nom = “Fuel name (Gazole, SP95, SP98, GPLc, E10, E85)” (attribute) maj = “Date of last update (AAAA-MM-JJ HH:mm:ss)” (attribute) valeur = “Price in euros multiplied by 1000” (attribute) rupture = “Shortage or non-delivery of a fuel” (attribute) id = “Fuel ID” (attribute) fuel = “Fuel name” (attribute) debut = “Start date (AAAA-MM-JJ HH:mm:ss)” (attribute) fin = “End date (if communicated) (AAAA-MM-JJ HH:mm:ss)” (attribute) fermeture = “Point of sale closure” (node) type = “Type of closure (definitive or temporary)” (attribute) debut = “Start date (AAAA-MM-JJ HH:mm:ss)” (attribute) fin = “End date (if communicated) (AAAA-MM-JJ HH:mm:ss” (attribute)

天然气价格：Total Price Including VAT (TP)：家庭（HH）：Less Than 5500 kWh在06-01-2024达764.600SEK/kWh，相较于12-01-2023的430.180SEK/kWh有所增长。天然气价格：Total Price Including VAT (TP)：家庭（HH）：Less Than 5500 kWh数据按半年更新，12-01-2014至06-01-2024期间平均值为208.065SEK/kWh，共20份观测结果。该数据的历史最高值出现于06-01-2024，达764.600SEK/kWh，而历史最低值则出现于06-01-2016，为153.570SEK/kWh。CEIC提供的天然气价格：Total Price Including VAT (TP)：家庭（HH）：Less Than 5500 kWh数据处于定期更新的状态，数据来源于Statistiska Centralbyrån，数据归类于全球数据库的瑞典 – Table SE.P005: Natural Gas Price。

United States PCE: PI: Less Wt Effect: Electricity, Gas, Fuel Oil, & Oth HH Fuels data was reported at -0.020 Point in May 2013. This records an increase from the previous number of -0.030 Point for Apr 2013. United States PCE: PI: Less Wt Effect: Electricity, Gas, Fuel Oil, & Oth HH Fuels data is updated monthly, averaging 0.000 Point from Jan 2002 (Median) to May 2013, with 137 observations. The data reached an all-time high of 0.050 Point in Sep 2008 and a record low of -0.110 Point in Oct 2005. United States PCE: PI: Less Wt Effect: Electricity, Gas, Fuel Oil, & Oth HH Fuels data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A138: NIPA 2009: Personal Consumption Expenditure Price Index and CPI Reconciliation: Monthly.

United States PCE: saar: SE: HU: HH: Electricity & Gas data was reported at 224.416 USD bn in May 2013. This records a decrease from the previous number of 233.786 USD bn for Apr 2013. United States PCE: saar: SE: HU: HH: Electricity & Gas data is updated monthly, averaging 87.165 USD bn from Jan 1959 (Median) to May 2013, with 653 observations. The data reached an all-time high of 244.975 USD bn in Mar 2013 and a record low of 7.454 USD bn in May 1959. United States PCE: saar: SE: HU: HH: Electricity & Gas data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A132: NIPA 2009: Personal Consumption Expenditure: Current Price.

United States PCE: PI: sa: SE: HU: HH: Electricity & Gas data was reported at 106.275 2012=100 in Jun 2018. This records a decrease from the previous number of 107.839 2012=100 for May 2018. United States PCE: PI: sa: SE: HU: HH: Electricity & Gas data is updated monthly, averaging 57.309 2012=100 from Jan 1959 (Median) to Jun 2018, with 714 observations. The data reached an all-time high of 113.682 2012=100 in Jul 2008 and a record low of 12.666 2012=100 in Jan 1959. United States PCE: PI: sa: SE: HU: HH: Electricity & Gas data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A024: NIPA 2018: Personal Consumption Expenditure Chained Type Price Index: Seasonally Adjusted: 2012=100.

United States PCE: 2012p: saar: SE: HCE: HU: HH: Electricity & Gas (EG) data was reported at 220.717 USD bn in Jun 2018. This records an increase from the previous number of 213.462 USD bn for May 2018. United States PCE: 2012p: saar: SE: HCE: HU: HH: Electricity & Gas (EG) data is updated monthly, averaging 211.733 USD bn from Jan 2002 (Median) to Jun 2018, with 198 observations. The data reached an all-time high of 239.928 USD bn in Feb 2015 and a record low of 178.462 USD bn in Jan 2006. United States PCE: 2012p: saar: SE: HCE: HU: HH: Electricity & Gas (EG) data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A022: NIPA 2018: Personal Consumption Expenditure: saar: 2012 Price: Chain Linked.

United States PCE: saar: SE: HCE: HU: HH: Electricity & Gas (EG) data was reported at 227.720 USD bn in May 2018. This records a decrease from the previous number of 250.334 USD bn for Apr 2018. United States PCE: saar: SE: HCE: HU: HH: Electricity & Gas (EG) data is updated monthly, averaging 95.154 USD bn from Jan 1959 (Median) to May 2018, with 713 observations. The data reached an all-time high of 257.707 USD bn in Feb 2015 and a record low of 7.454 USD bn in May 1959. United States PCE: saar: SE: HCE: HU: HH: Electricity & Gas (EG) data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A051: NIPA 2013: Personal Consumption Expenditure: Current Price.

Bosnia and Herzegovina GDP: PY: Final Consumption Expenditure: HH: Housing, Water, Electricity, Gas and Other Fuels data was reported at 4,086,023.000 BAM th in 2023. This records an increase from the previous number of 3,820,891.000 BAM th for 2022. Bosnia and Herzegovina GDP: PY: Final Consumption Expenditure: HH: Housing, Water, Electricity, Gas and Other Fuels data is updated yearly, averaging 3,282,509.500 BAM th from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 4,086,023.000 BAM th in 2023 and a record low of 2,776,115.000 BAM th in 2008. Bosnia and Herzegovina GDP: PY: Final Consumption Expenditure: HH: Housing, Water, Electricity, Gas and Other Fuels data remains active status in CEIC and is reported by Agency for Statistics of Bosnia and Herzegovina. The data is categorized under Global Database’s Bosnia and Herzegovina – Table BA.A033: GDP: Final Consumption Expenditure: Households: ESA 2010: Previous Year Price.